This is the TechSummit Rewind, a daily recap of the top technology headlines
Medium lays off a third of its staff as it searches for a new business model
Publishing platform Medium has laid off 50 people – roughly a third of its staff – amid growing concerns over its advertising-based model. The company will explore alternatives to pageview-based advertising in the hopes of developing a lucrative, sustainable alternative for writers and publishers.
“While we could continue on our current path – and there is a business case for doing so – we decided that we risk failing on our larger, original mission if we don’t make some proactive changes while we have the momentum and resources to do so.
“It’s clear that the broken system is ad-driven media on the internet. It simply doesn’t serve people. In fact, it’s not designed to.”
– Ev Williams, Medium CEO
According to Williams, Medium grew in popularity as a product last year with 300 percent growth in readers and published posts.
AT&T to conduct 5G streaming tests with DirecTV Now
In a simultaneous test of wireless broadband and net neutrality, AT&T will test its upcoming 5G tech with DirecTV Now video streaming. Trial customers in Austin, Texas will be able to stream the services on a variety of devices over fixed 5G connections at several sites. The goal, according to the carrier, is to see how “wireless millimeter wave technology handles heavy video traffic.”
Apple to invest $1B in SoftBank’s tech fund
Apple will invest $1 billion in the SoftBank Vision Fund, which is scheduled to launch in the next few weeks with a focus on emerging technologies.
“We believe their new fund will speed the development of technologies which may be strategically important to Apple.”
– Kristin Huguet, Apple spokesperson
Zuckerburg aims to meet, listen to people in all 50 states in 2017
Facebook CEO Mark Zuckerburg is using his yearly challenge this year as an opportunity to educate himself on the needs and problems of his users around the United States.
“My work is about connecting the world and giving everyone a voice. I want to personally hear more of those voices this year.”
– Mark Zuckerburg, Facebook CEO in a Facebook post
House Republicans vote to fine lawmakers that live stream from the floor
House Republicans have approved new rules that impose fines for live streaming on the House floor. This comes after lawmakers used apps like Periscope to broadcast their protest last year when the building’s cameras were turned off.
Lawmakers can now be fined $500 for a first offense and as much as $2,500 for subsequent offenses under the new rules, which also include fines for still photography.
Representative John Lewis, who participated in June’s protests said that the rules would have a “chilling effect on members who disagree with the proceeding of this body.”
“No congress, no body, no committee has the power to tell us that we cannot stand up, speak up, and speak truth to power. We have a right to dissent, we have a right to protest for what is right.”
– John Lewis, House Representative (D-GA)